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BCM

Bornite Capital Management Portfolio holdings

AUM $595M
1-Year Est. Return 59.2%
This Fund
S&P 500
This Quarter Est. Return
+12.85%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$566M
AUM Growth
-$41.5M
Cap. Flow
-$80.3M
Cap. Flow %
-14.19%
Top 10 Hldgs %
48.99%
Holding
63
New
24
Increased
7
Reduced
4
Closed
27

Top Buys

Rank Stock Value
1
TLN
Talen Energy Corp
TLN
+$36.8M
2
STLD icon
Steel Dynamics
STLD
+$24.3M
3
ETN icon
Eaton
ETN
+$19.7M
4
WSO icon
Watsco Inc
WSO
+$16.8M
5
KNTK icon
Kinetik
KNTK
+$15.1M

Top Sells

Rank Stock Value
1
VRN
Veren
VRN
+$39.4M
2
AMZN icon
Amazon
AMZN
+$34.7M
3
CVE icon
Cenovus Energy
CVE
+$33M
4
CDNS icon
Cadence Design Systems
CDNS
+$18.5M
5
MA icon
Mastercard
MA
+$17.6M

Sector Composition

Rank Sector Weight
1 Industrials 28.84%
2 Technology 18.35%
3 Materials 13.31%
4 Energy 12.95%
5 Utilities 8.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IBM icon
26
IBM
IBM
$222B
$11.1M 1.95%
+50,000
New +$9.8M
CRM icon
27
Salesforce
CRM
$158B
$10.9M 1.94%
+40,000
New +$10.2M
ADBE icon
28
Adobe
ADBE
$103B
$10.4M 1.83%
+20,000
New +$11M
AMAT icon
29
Applied Materials
AMAT
$424B
$10.1M 1.79%
+50,000
New +$10.3M
V icon
30
Visa
V
$688B
$9.62M 1.7%
+35,000
New +$9.46M
UBER icon
31
Uber
UBER
$139B
$9.39M 1.66%
125,000
-75,000
-38% -$5.28M
NOW icon
32
ServiceNow
NOW
$121B
$8.94M 1.58%
+50,000
New +$8.22M
LYV icon
33
Live Nation Entertainment
LYV
$42.8B
$8.21M 1.45%
+75,000
New +$7.25M
NFLX icon
34
Netflix
NFLX
$309B
$7.09M 1.25%
+100,000
New +$6.69M
WULF icon
35
TeraWulf
WULF
$8.95B
$4.68M 0.83%
+1,000,000
New +$4.54M
TRP icon
36
TC Energy
TRP
$66.5B
$1.66M 0.29%
+35,000
New +$1.52M
AAPL icon
37
Apple
AAPL
$4.54T
– –
-80,000
Closed -$16.8M
AER icon
38
AerCap
AER
$24.4B
– –
-100,000
Closed -$9.32M
APD icon
39
Air Products & Chemicals
APD
$65.7B
– –
-40,000
Closed -$10.3M
BLDR icon
40
Builders FirstSource
BLDR
$8.16B
– –
-80,000
Closed -$11.1M
CDNS icon
41
Cadence Design Systems
CDNS
$92.8B
– –
-60,000
Closed -$18.5M
CNM icon
42
Core & Main
CNM
$8.71B
– –
-260,500
Closed -$12.7M
CRH icon
43
CRH
CRH
$66.5B
– –
-156,146
Closed -$11.7M
CSX icon
44
CSX Corp
CSX
$94.7B
– –
-300,000
Closed -$10M
CZR icon
45
Caesars Entertainment
CZR
$6.13B
– –
-250,000
Closed -$9.94M
DE icon
46
Deere & Co
DE
$165B
– –
-30,000
Closed -$11.2M
DFS
47
DELISTED
Discover Financial Services
DFS
– –
-75,000
Closed -$9.81M
FDX icon
48
FedEx
FDX
$73.5B
– –
-35,000
Closed -$10.5M
FLR icon
49
Fluor
FLR
$7.2B
– –
-200,000
Closed -$8.71M
FNV icon
50
Franco-Nevada
FNV
$43.7B
– –
-125,000
Closed -$14.8M
1
2
3

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Bornite Capital Management's Q3 2024 Portfolio in Review

As of Q3 2024, Bornite Capital Management held 63 positions worth $566M, down 6.8% from $607M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Bornite Capital Management withdrew a net $80.3M in Q3 2024, closing 27 positions and reducing 4 holdings. Its most notable exit was Veren, an estimated $39.4M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 29% of assets, up from 24% a quarter earlier, followed by Technology and Materials.

Against the trend, Bornite Capital Management opened a new position in Talen Energy Corp worth $46.6M.

  • Bornite Capital Management's largest Q3 2024 buy was Talen Energy Corp: 261,500 shares worth $46.6M.
  • Bornite Capital Management added most to Eaton in Q3 2024, an estimated $19.7M increase.
  • Bornite Capital Management's biggest Q3 2024 reduction was Amazon, cutting an estimated $34.7M.
  • Bornite Capital Management fully exited Veren in Q3 2024, selling an estimated $39.4M.
  • Bornite Capital Management's ten largest holdings make up 49% of its $566M portfolio in Q3 2024.
  • Bornite Capital Management opened 24 new positions and closed 27 in Q3 2024.
  • Bornite Capital Management's portfolio value fell 6.8% quarter-over-quarter to $566M.

Based on Bornite Capital Management's 13F filing for Q3 2024, filed 13 Nov 2024.